David Warfield published an article on Missouri’s new receivership statute on Commercial Bankruptcy Alternatives in August, 2016. Warfield characterized the new receivership statute as “modernized,” specifically pointing to concepts imported from bankruptcy law, including: the automatic stay, stay, abandonment of property, ability to incur debt, assumption and rejection of executory contracts and unexpired leases, the […]
Missouri has joined the ranks of those states that have modernized their receivership statutes. The Missouri Commercial Receivership Act (“MCRA”) becomes effective on August 29, 2016. Codified in Chapter 515 of the Missouri Revised Statutes, the MCRA recognizes the increasing importance of non-bankruptcy solutions to the problems caused by distressed businesses. The new statute will […]
Times and mores are changing. More and more people and more and more states have de-stigmatized and legalized (in at least some respects) marijuana use, sales and cultivation. As the marijuana “industry” expands, and however unlikely it may seem, a marijuana business could run into creditor problems just like any other. In fact, this has happened already. Locally […]
Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to email@example.com and we will try to answer it. QUESTION: Jeffrey B. asks: where is a good starting place to understand California receiverships? ANSWER: The California receivership statutory scheme, encompassed in California Code […]
American state and federal courts have the equitable power to take custody of property at issue in a legal dispute and to appoint a receiver to act as agent for the court in keeping, managing, and even selling the property, in order to protect the interests of those parties with a claim on such property. […]
Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to firstname.lastname@example.org and we will try to answer it.